Tecumseh, Michigan Property Taxes
The median property tax rate in Tecumseh, MI is 1.34%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Tecumseh at $196,400, the typical annual property tax bill reaches $2,584, which is slightly below the national median of $2,690. Property taxes in Tecumseh are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tecumseh's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Tecumseh or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tecumseh, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$2,632
$2,442
Ownwell’s Tecumseh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tecumseh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tecumseh to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Tecumseh, Michigan
Property taxes in Tecumseh, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tecumseh is 1.34%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Tecumseh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tecumseh estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Tecumseh's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49286 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these areas compare with Tecumseh provides valuable insights into the varying tax landscape across Lenawee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tecumseh Tax Rate
1.34%
Average Lenawee County Tax Rate
1.14%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tecumseh, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49286 | 0.87% | 1.01% | 1.34% | 1.59% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Tecumseh, Michigan
In Tecumseh, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lenawee County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Tecumseh, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest median tax bill in Tecumseh is $2,584 in the 49286 zip code, while the lowest median tax bill is also $2,584 in the same zip code. Being aware of these valuation processes in Tecumseh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tecumseh Assessed Value
$196,400
Average Lenawee County Assessed Value
$168,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tecumseh, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49286 | $118,400 | $150,400 | $196,400 | $264,000 | $335,520 |
Source: Ownwell
Property Tax Bills Across Tecumseh, Michigan
In Tecumseh, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the Lenawee County Assessor's office. The assessed value typically reflects 50% of the property's market value. For instance, with a median home price of $196,400, the assessed value would be approximately $98,200. The property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. In Tecumseh, the tax bill ranges significantly, with the 25th percentile at $1,964 and the 75th percentile reaching $3,439. For those in the 90th percentile, the tax bill can be as high as $4,658. Homeowners in Tecumseh should be aware that their property tax bills can vary widely based on these assessments and local rates, which can significantly impact their annual expenses compared to the national median property tax rate of 0.99%.
Average Tecumseh Tax Bill
$2,584
Average Lenawee County Tax Bill
$2,184
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Tecumseh, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49286 | $1,505 | $1,964 | $2,584 | $3,439 | $4,658 |
Source: Ownwell